VA New Construction

[Digger88]

Phoenix RLC indicates when the new construction has reached the state where buyer preferences are awaiting install, to make the report subject to alterations or repairs.

"and" mark it existing instead of under construction even though its under construction lol

 

[KYLECODY]

So if its solely the exterior shell completed on new construction are they advising you hold off until it is down to the buyers preferences(paint, carpet, counters, etc.) before you inspect? Is this where the 70%/90% comes in?

 

[Eli]

Yes. Your subject to anyway. You have builder warranties involved too.

That form would be proposed construction and would not apply to existing construction. There are legalities involved with the mortgage if any construction has started before the bank has their mortgage in place.

That don’t just apply to residential.

The form could apply if construction was say half way. Buyer preference stage is the proper term when it don’t apply.

Like paint, carpet, appliances, light fixtures.

Just delay appraisal until it gets to buyer preference stage and do it subject to if necessary.

Or do the form if the client wants it before buyer preference stage. Get the builder to do it.

Certificate of occupancy applies here too. You have to protect the lender and VA.

 

[Fritz in NY]

Proactive you made my night, "Back in the Day" We could write a book, one chapter would be on What Poloroid Camera to buy or the best
film processing labs in our market.
I've never seen it either. I dought the POC or Builder would ever fill it out or know how to, Many POC can't fill out the 1 page 1805 yet.

I forgot, did it mention the time to fill out ? "Respondent Burden", I'd bet at least 30 minutes.